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Uhuru Growth Fund I

Region and countries in which the fund invests: Africa / Nigeria, Ghana, Cote d’Ivoire, Mali, Burkina Faso and Senegal
Jurisdiction of registration: Luxembourg
Business sector: Generalist fund
Signing date (month/year): 3/2021
Size of Finnfund’s financing (commitment): USD 10,000,000
Share of Finnfund’s financing: n/a
Environmental and social categorisation: FI-B
Companies financed by the fund:

Name Sector Region Country
Phoenix Life Insurance Co Insurance Africa Ghana
Everyday Group Retail trade Africa Nigeria

In the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the final closing of the fund.

Brief description

Uhuru Growth Fund I is a mid-market private equity fund that will provide growth capital to mid-market companies across West Africa, with a focus on Nigeria, Ghana, Cote d’Ivoire, Burkina, Faso, Mali, and Senegal. Uhuru Growth Fund I will invest in high-growth sectors, with emphasis on consumer-related sectors and financial services.

Main development impact

The Fund’s priority target consumer goods and financial services sectors typically have large development effects. The generalist fund financing growth-oriented companies are expected to create employment effects, local production, and tax revenues.


Last modified: May 2023